Why are so many millennials financially illiterate?

Why are so many millennials financially illiterate?

THOSE STUPID GOYIM NEED TO GET CREDIT CARDS AND ACQUIRE DEBT

>not buying things you cant afford makes you financially illiterate

oooh jew.

>pays 30k for liberal arts degree

Debt decreases the likelihood of dating, marriage, having children (especially the number of children you'd have), and so forth. This makes it a great way to attack the birthrate as an excuse to bring in immigrants.

>not taking advantage of negative interest loans

>demands $15 an hour

Yes. To make payments buy shit and improve your credit rating to buy even more shit. You can't even rent an Appartment without a credit card and good credit history

paying student loans builds credit history

Why the fuck would I ever get a credit card?

23 and make decent cash. Why the hell would I spend money I don't have just so I can put myself in debt?

No thanks, you dirty kike.

This, that'sis literally the only reason to get a credit card

Recently I had my credit limit increased for being a good goy, feels good to know I won't have trouble asking for a loan to buy a house in the future

>Get credit card
>0% APR
>Pay bills and for necessities
>rack up reward points
>pay off entire card every month as you get paid
>acquire new 0% APR card and leave other card open to massively improve your credit score/build credit
>repeat

I had an 880 credit score by 28 and I am debt free. You can out jew the Jew if you aren't a fucking tard.

780* I meant for credit score.

This. Just don't be a stupid idiot. Make a budget, don't burn your money on blow and you'll be fine.

Because #yolo

I have 4 credit cards. I pay for none of them. THey just sit there, building credit, and I don't have to do a damn thing.

too much stuff to buy

>Why the hell would I spend money I don't have just so I can put myself in debt?

Are you retarded? Just because you have a credit card doesn't mean you max it out, you put enough on it in a month so you can pay it off every month, thus raising .your credit score.

But, you make decent money, so you can buy a 30 thousand dollar dollar car and 100,000 dollar house in cash.

This. Credit cards are stupid

I have good credit and have literally never had a credit card. There are other ways to build credit.

You actually need to use them to build credit leaf

I'm so glad we don't have that system here. I don't want to play their fucking game.

Here it's generally just based on wether you've been late on payments or not.

Why is why I don't like them. They all but force you to get one and use it.

If you have debt then you credit score goes down. If you have self control then you can have a line of credit without maxing it out. Well some people can and some can't. That's what the credit score tells us

Credit cards are objectively the easiest way when you are young. If you max credit cards out you only have yourself to blame.

This thread just proves to me that millennial are financially illiterate retards.

How do you tell if a Credit Card is Major or Minor?

public schools dont teach shit on finance.

the jewish run department of education refuses to change anything.

Bullshit. It's not just credit but credit history transactions and monthly payments. You can have 680 credit rating by doing fucking nothing at all doesn't mean people will loan you anything rent you anything or lease you anything

>I don't want to play their fucking game.
But you are

If you have a good credit history, you can refinance your loans before you even graduate. And not all millennials are in college. I would figure it's in the best interest of anyone who is working towards a better situation to build a good credit history by making purchases they would make anyway on a credit card and immediately paying it off.
t. financially illiterate millennial
next time, before you post,
kill you'reself
If you really feel that strongly about jewish usury you had better take your money out of the bank immediately, because Jews are currently using it to reinvest and turn a profit.

I literally haven't used cash or debit since I was 18 or 19, whenever I got a credit card. Every single purchase in nearly a decade has been credit. I have never payed fees or interest. On the other hand, I have racked up a couple grand in cash rewards in this time. I also have amazing credit, which helped me get into a mortgage.

But the most convincing reason to use a credit card is because it is precise. You pay exactly what you are charged. With cash, you pay with a large bill and receive change. That change is easy to disregard and spend on junk or just forget about in a drawer somewhere. Over time it adds up to many thousands of wasted dollars.

Learn to outjew the jew and don't be a stupid goyim.

Well.. I mean, I do use them, but then I pay them off. But I mean, they help build credit easy, and give you a better credit rating the longer you have them.

and what you dont realize is that all of those "rewards" come from jews jewing other good goyim.

the moment people wise up and do what you're doing is the moment those rewards dry up.

all you're doing is aiding the jews in scamming others.

>They literally don't. I have tens of thousands of dollars in open credit from credit cards alone and there isn't a cent on them.

I will occasionally use them and pay them off right away... otherwise they tend to close your account or lower the credit limit. Not that it matters because you can simply apply for another card if your credit is good anyhow.

> but then I pay them off

That's really the entire point

They are rejecting the nose, OP.

Yes you're right. Fuck I hate the welfare state so much.

I know. I have ten (10) cards. I use every one once a month and never carry a balance. My FICO score is 790.

Does that include Debit? Because the figure would be much higher.

>scamming retards

No problemo.

What are the best cards in your opinion? The rewards points come with too many caveats, I am thinking of just getting the flat 2% or so cash back cards instead.

> having credit card
> financially ((literate))

borrowing/loaning money isn't a scam

unless you expect people with money to loan it to other people out of the kindness of their heart and expect nothing in return

FPBP

>If you really feel that strongly about jewish usury you had better take your money out of the bank immediately
Actual working advice.

-Renting anything

I'm 25 and married.

I work for 60k/yr

I have no credit cards.
I have no outstanding student loans
I own a house I paid for on cash
I own two cars outright
I own mineral rights to my land outright
I own water rights on my land outright

having debt does not make you "financially illiterate"

it means that you're not addicted to the jew.

if you were actually financially literate, you would know that it's more than possible to do all the things above by simply managing your money, saving well, and investing prudently.

but you're so addicted to the credit jew that you've backed yourself into a corner where more debt is the only way to continue, where you have no understanding of budgeting and using money in a responsible way, so you need to tell yourself that you're improving

>muh credit score

just to sleep at night.

enjoy your life.

i don't think they are. nearly every of my friends from secondary school is now pretty high paid. engineers, physicians, biochemists... many in in management careers.

>No problemo.
t. shekelstein

>But the most convincing reason to use a credit card is because it is precise. You pay exactly what you are charged. With cash, you pay with a large bill and receive change.
and debit is different how?

why in the fuck would you get 10 credit cards

Oh just fuck off you special snowflake internet faggot. There is no downside to having a fucking credit card if you pay the balance every 30 days.

> muh Jews

lmao

Just treat it like a debit card and you win

OP how big is your Jewish noise?

i have a 770 and i don't even try really.

>He doesn't know people build debt by using credit cards and paying them off right away

wew lad. It's such a basic credit score building method that it's almost sad people can't grasp it.

Banks in my country largely charge you for debit use or demand minimum balances in some shitty account to get free debit use. Can't speak for others.

I want my money invested properly, not sitting in some fucking account.

building credit isn't as big a meme in other countries
I had two cards in america but zero in japan

>not getting money back on every purchase and spending within your means

The best way to build credit is actually

>use credit card
>make min payment
>immediately pay it off

it builds it faster than paying it all off before the month's end, although that also builds credit.

slide thread. gay, fake, sage. theres happenings.

>refinance your loans
nope, I'm on a flat rate 120 payments. even better.

since the graph is measuring 18-29s' use of credit cards, I don't imagine they'd count debit cards. it would make more sense for them to count credit cards in this case.

I was born in 1992 and have over 40 credit lines (credit cards, loans/car loans, store cards).

I have $256,500 available credit according to credit karma.

I only make $45k a year... lol the credit system is SO easily manipulated. Literally used to sweet talk the credit analyst into approving new cards and getting CLI's.

That's not even counting my business cards.

thats because the iddea that it's a jewish conspiracy is for morons

"go into debt like me!"

lmao boomers are so fucking retarded, i hate old people so much

also what is this retardation you need to go into debt to get an apartment? lmfao, what fucking apartments were YOU old fucks renting out at the age of 20??

So just use a debit card then.

You're not manipulating anything though. Being responsible, of course people will loan you more money.

Actually you're supposed to wait for your statement, then pay it off in full. Never make a minimum payment. If you have a low credit limit then you'll have to make sure not to go over 30% credit usage.

>I have given my SSN to over 40 for-profit non-governmental organizations

Debit cards don't come with extended warranties on purchases, fraud protection, price protection, or 2-10% off on every purchase

> go into debt

Lol Nobody is suggesting you go into debt.

>I hate old people so much

Well I guess you would want Hillary in office then.

>having/using a credit card means you have to go into debt

delete your account

How does this credit shit work in the US?

>duur huur i'm to retarded to understand credit and would rather spend thousands of dollars at once, instead of paying hundreds of dollar a month over years with little to no interest., thus the money I didn't throw away all at once I could actually invest in 401K, stocks etc

What is your utilization?

Exactly. They're nice and simple.

Nah senpai, got 9 cards with chase before they established the 5/24 rule.

Who else is part of the 2%?

5%, meaning I have some debt but recently been paying off $1000 a month. I got these cards mostly for the bonus incentives.

only old fucking boomers believe in the msm

t. my old ass boomer parents voted for hillary xd

you have to go into debt for a short amount of time technicially if you want to build up your (((credit score))

I'm 21 and have never owed a penny. at this point it's probably bait, but with the influx of redditfags, you might actually be this god damn retarded.

Well you do go in debt, but if you pay it off before the deadline then there is no interest charged

>None of these Millennials will have kids except for me

Feels good man children are so much better then genetic deadends.

How does it work in socialist Europe? You get a credit card they asses your ability to pay and set a limit. You buy shit with it pay it off your limit rises your credit rating improves.

If you count opening a paypal line of credit to get a "free" gift card for your 3rd credit line and then never using it then I suppose I'm part of the 2%.

They got you

Are they tho?

> no argument

lmao, please tell me what apartnments your renting where you need to have a high credit score?

i have encountered ZERO of this and all of my friends live in apartnments on low wages, all this kike shilling lmao. You kikes will NEVER get me....EVER

...

Somewhat, but jokes on them I could literally spend a quarter million in a day if I so felt like it. Not many people can say that.

As long as you're not tarding it up by taking on more than you can actually pay off more power to you.

Does an Amex charge card count as a credit card?

The majority of millennials voted for Hillary, a good amount of boomers voted for trump. You're going to be a childless month anyways. Why even bother arguing with you.

>>How does it work in socialist Europe?
It depends on the country, most don't actually use the credit score system. We do have it in Denmark but not the same kind, we're either just creditworthy or not, and you can simply ask a couple of banks what your credit standing is.

Probably as I would assume many of them can't get a credit card because of shit credit scores that are a result of late payments and student debt.

Well yes technically. Technically if you even have a basic debit account you are giving your money to the Jew so you might as well kill yourself right now

Yeah. technically.

I'm a millennial, and I don't have any credit cards. I know it's generally good practice to get one and pay it off to develop a good credit score, but I don't really have a need for that. I make millions of dollars and buy everything in cash. I'm certainly not financially illiterate.

no argument, then moving the goalpost when i'm talking about people believe the msm lol

> baby boomer logic,

LOL

You're speculating, y'know.